Canadian Life Companies Split Corp.

Canadian Life Companies Split Corp.

July 09, 2013 10:03 ET

Canadian Life Companies Split Corp.: Update & Resumption of Dividends

TORONTO, ONTARIO--(Marketwired - July 9, 2013) - Canadian Life Companies Split Corp. (the "Company") is providing the following update to its shareholders. The net asset value (NAV) of the Company has grown over the past number of months due to increasing valuations of its underlying portfolio of life insurance companies. The Company invests primarily in the common shares of Manulife Financial, Sun Life Financial, Great-West Lifeco, and Industrial Alliance. The NAV of the Company today is approximately $14.50 ($13.68 fully diluted). This provides an intrinsic value for the Class A shareholder (LFE) of approximately $4.50 ($3.68 fully diluted). The Company would also like to take this opportunity to re-iterate its dividend policy on its Class A shares. The Company is restricted from paying dividends on its Class A shares until the undiluted NAV reaches $15.00. When, and if, the undiluted NAV exceeds $15.00, dividends will be re-instated.

Canadian Life Companies Split Corp. is an investment fund managed and advised by Quadravest Capital Management Inc.

Contact Information

  • Canadian Life Companies Split Corp.
    Investor Relations
    416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)